First Specialty Retailer of Integrative Healthcare Related Products and Services Yields 10-15% Increase in Per-Member Spending With New Feel Better Rewards Program
TIBCO Software Inc. today announced that Pharmaca Integrative Pharmacy, Inc., the nation's first and largest chain of integrative pharmacies, is leveraging loyalty management solutions from TIBCO Loyalty Lab(R) to increase customer acquisition, retention and engagement.
Pharmaca has identified a large market opportunity to enhance the pharmacy experience by integrating traditional pharmacy services with a holistic remedy and service model. Marrying the best practices of conventional and natural medicine, Pharmaca offers an integrative healthcare experience, which seeks to help customers achieve a sense of empowerment about their wellness and live the healthiest lives possible. When Pharmaca needed more insight into its customers' buying behaviors across its full-service pharmacy, supplements, HABA, OTC and Lifestyle departments, it turned to TIBCO Loyalty Lab to:
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Launch the Feel Better Rewards Program at 24 locations to help measure ROI across departments and access what customers were buying and why, when they made purchases and how often, as well as how much they were spending;
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Use analytics to visualize goals, results and needed adjustments along the way for improvements;
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Reward buying behaviors across different parts of the store with a quarterly dividend program to drive frequency; and
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Drive program adoption and engagement, including increasing sales and transactions, average basket amount, member frequency, members shopping retail and pharmacy, and members earning and redeeming awards.
Supporting Quotes: "We saw a 50% increase in the percent of customers cross-shopping retail and pharmacy and a 10-15% increase in per-member spending since we launched the program -- plus we gained enormously valuable insights into our customers' shopping behavior," said Laura Coblentz, Vice President Marketing & Innovation for Pharmaca.
"Today's ultra-connected consumers have high expectations of retailers to make their shopping experiences positive, including knowledge of every company interaction, likes and dislikes and uniform brand experience," said Matt Howland, vice president, TIBCO Loyalty Lab. "With TIBCO Loyalty Lab, Pharmaca now has 150,000 members with 65% of the sales on the program and increased year-over-year growth despite a down economy."
About TIBCO
TIBCO Software Inc. is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's optimizing claims, processing trades, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage(TM) -- the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes and applications in real time. Learn more at www.tibco.com . For more information about TIBCO Loyalty Lab, please visit: www.loyaltylab.com .
About Pharmaca Integrative Pharmacy
Pharmaca Integrative Pharmacy Inc., founded in June 2000 and based in Boulder, Colo., is the nation's first integrative pharmacy chain offering traditional prescription-filling services alongside natural and complementary health solutions. The company owns 24 pharmacies in California, Colorado, New Mexico, Oregon and Washington and an online presence at www.pharmaca.com .
TIBCO, the two-second advantage, TIBCO Software, and Loyalty Lab are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.